Wail Farsakh was appointed to the role in April 2020
The process of liquidating a company can seem daunting, but partnering with an expert can help entrepreneurs ease the transition
Sprii has hired Guy Wall of Grant Thornton as liquidator
The decision reversed efforts sought by a minority group of shareholders to restructure and save the company from liquidation
It was valued at about Dhs30bn at its peak in 2014 and is now worth Dhs795m
In view of the current economic climate, business owners keen to consolidate and reduce overheads may look to liquidate
Sanea was detained last year for unpaid debts dating back to 2009
Maan al-Sanea was ranked by Forbes as one of the world’s 100 richest people in 2007
A drop in oil prices this year suggests that hydrocarbon-funded SWFs are under pressure